Crude Oil Dropped As Rising U.S. Output And A Strengthening Dollar Sapped

Crude oil trading range for the day is 4056-4178.

Crude oil dropped as rising U.S. output and a strengthening dollar sapped demand for crude.

Russia produced 10.94 million barrels of oil per day (bpd) on average between Jan. 1 and Jan. 28, or 1.493 million tonnes.

U.S. output has jumped more than 17 percent since mid-2016 and is expected to exceed 10 million bpd soon.

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